Fitch Ratings affirms Crown Ltd’s long-term rating

Fitch Ratings has affirmed Crown Ltd’s “BBB” long-term issuer default rating (IDR) and senior unsecured rating, with a stable outlook on the IDR. The ratings agency said Crown’s assets in Melbourne and Perth continue to deliver solid earnings, but added there is a risk of concentration as the properties are Crown’s main cash flow generators. Going forward, the company’s 33.7 percent interest in Macau’s Melco Crown will be a growth opportunity, it said.